@steve_hanke
Professor, your chart cherry-picks a rough 6-month stretch for Bitcoin (-21.6%) while gold ripped +48%. Fair enough—2025 was a down year for BTC, ending roughly -15% to -20% depending on exact dates.
But no serious investor judges an asset on one year or one cycle.
Let's look at real compounded returns (price only, no dividends/rewards):
• 1 year (2025): Bitcoin ≈ -15%, Gold ≈ +35-40%, Silver ≈ +20-25%
• 2 years: Bitcoin still positive in most calculations, Gold +60-70%, Silver +40-50%
• 3 years: Bitcoin +150-180%, Gold +70-80%, Silver +50-60%
• 4 years: Bitcoin +300-350%, Gold +90-100%, Silver +70-80%
• 5 years: Bitcoin +600-700%, Gold +100-110%, Silver +80-90%
• 10 years: Bitcoin +15,000-20,000%, Gold +90-100%, Silver +40-50%
• 16 years (since Bitcoin's first priced trades in 2010): Bitcoin +∼20,000,000% (yes, seven zeros), Gold +∼250%, Silver +∼100%
Name a single asset class—stocks, bonds, real estate, commodities, anything—that comes within an order of magnitude of Bitcoin's long-term performance. There isn't one.
Bitcoin's volatility is the price of admission for asymmetric upside. Gold and silver are fine stores of value, but they are not superior.
And while we're at it: go try to sell a meaningful amount of physical silver at true spot price on a Sunday night with near-zero slippage. Tell me how that works out for you. Bitcoin settles in minutes, 24/7/365, anywhere on earth.
Digital scarcity beats physical inertia.
#Bitcoin
a century ago, the richest guy alive couldn’t get penicillin, air conditioning, or instant global communication.
today, a minimum wage worker has access to those things. so, what *exactly* is wealth today?
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